The peking Place reported the following:

Standard quantity per unit……………………..…3lbs

Standard price per pound……………………….$2.75

Actual pounds used………………………..15,000 lbs

Actual price per pound………………………….$2.90

Number of units produce………………………..5,070

1. Determine the direct material price variance

a. $2,672.50 favorable

b. $3,172.50 unfavorable

c. $577.50 favorable

d. $2,250.00 unfavorable

2. Determine the direct material quantity variance

a. $1,672.50 favorable

b. $3,172.50 unfavorable

c. $577.50 favorable

d. $2,250.00 unfavorable

Answer rating: 100% (QA)

1 MATERIAL PRICE VARIANCE ACTUAL PRICESTA... View the full answer